Our Starting Point Our Starting Point Strategy of Value Creation for Our Vision A Foundation Supporting Value Creation Data Business activities of JR-West Group The JR-West Group consists of West Japan Railway Company, 64 consolidated subsidiaries, 88 non-consolidated subsidiaries, and 22 affiliated companies. (As of September 1, 2019) We will continue enhancing the Group’s strengths and take advantage Composition of revenues Year ended March 31, 2019 of the Group’s comprehensive capabilities to grow with the aim of Operating revenues Operating income Railway passenger revenues Assets (As of March 31, 2019) achieving our vision—our ideal forms. (external sales) 11.9% 10.7% 12.4% 14.1% The JR-West Group and its employees all work together in wide-ranging business activities, which include transportation services based 9.7% on railways and lifestyle-related services that take advantage of the features of our transportation services. In addition to this, we also work 17.9% to develop new business sectors. Total Total Total Total 20.1% billion billion billion billion No *: Consolidated subsidiaries *: Non-consolidated subsidiaries **: Companies accounted for using the equity method ¥1,529.3 ¥196.9 ¥873.4 ¥3,237.5 Note: Company names in each business segment are listed according to the main business activities. The names of the main companies only are listed. 3.1% 16.1% 35.3% 3.5% 62.4% Consolidated segments 68.3% 52.3% 62.3% Transportation operations Transportation operations Transportation operations Shinkansen ¥457.0 billion ¥953.9 billion ¥136.2 billion ¥2095.0 billion Transportation Operations Other Businesses Retail business ¥245.5 billion Retail business ¥6.1 billion Kansai Urban Area ¥308.1 billion Retail business ¥118.2 billion Railway Services Hotel Business Real estate business ¥148.5 billion Real estate business ¥35.6 billion Other conventional lines Real estate business ¥675.7 billion West Japan Railway Company West Japan Railway Hotel Development Limited ¥108.2 billion Sagano Scenic Railway Co., Ltd. HOTEL GRANVIA OSAKA Co., LTD. Other businesses ¥181.3 billion Other businesses ¥21.2 billion Other businesses ¥474.5 billion Bus Services HOTEL GRANVIA OKAYAMA CO., LTD. West Japan JR Bus Company HOTEL GRANVIA HIROSHIMA CO., LTD. Chugoku JR Bus Company Wakayama Terminal Building Co., Ltd. Ferry Services Nara Hotel Co., Ltd JR West Miyajima Ferry Co., Ltd. Amagasaki Hotel Development Limited* Car Rental Business Operating area Retail Business West Japan Railway Rent-A-Car & Lease Co. LTD. Travel Business Sales of Goods and Food Services Nippon Travel Agency Co., Ltd. West Japan Railway Daily Service Net Company Boundary Stations between JR-West and Other JR Companies Omi-Shiotsu Machinery and Equipment Installation Business West Japan Railway Food Service Net Company Shinkansen West Japan Railway Techsia Co., Ltd. West Japan Railway Fashion Goods Company Conventional lines Rolling Stock and Equipment Business Japan Railway Service Net Kanazawa Company Local lines WEST JAPAN RAILWAY TECHNOS CORPORATION Maibara Japan Railway Service Net Okayama Company WEST JAPAN RAILWAY SHINKANSEN TECHNOLOGY Japan Railway Service Net Hiroshima Company CORPORATION Tanikawa Hokuriku Japan Railway Service Net Fukuoka Company Electrical Contracting Business Yamashina Kusatsu Shinkansen Wholesale Nishinihon Electric System Co., Ltd. Kyoto Japan Railway West Trading Co. Kyoto Branch West Japan Electric Technologies Co., Ltd. Aioi Himeji Kameyama Department Store Kakogawa Osaka Hokuriku Shinkansen Electrical Equipment Business Amagasaki Shin-Osaka West Japan Railway Isetan Limited Tsuge Joetsumyoko (East Japan Railway Company) TETSUDEN CO., LTD. Shin-Kobe Other Retail Businesses Nara Civil Engineering and Construction Consulting Business Nishi-Akashi Kyobashi Kansai Urban Area Head office Toyama West Japan Railway Sanin Development Company Kobe JR West Japan Consultants Company Oji Kanazawa Kobe Branch Tennoji Minami- Construction Business Takada Real Estate Business Kansai Airport Kanazawa Branch Otari Takasaki RAILWAY TRACK AND STRUCTURES TECHNOLOGY CO., LTD. Osaka Branch Inotani Real Estate Sales and Leasing DAITETSU KOGYO CO., LTD. Kyoto Station Building Development Co., Ltd. KOSEI CORPORATION** Wakayama Osaka Terminal Building Co., Ltd. JR WEST BUILT CO., LTD. JR West Real Estate & Development Company Information Services Business Yonago Branch Tokyo JR West Properties Co., Ltd. JR WEST IT Solutions Company Shinagawa Tokyo Shopping Center Management Business Advertising Business Fukuchiyama Branch Maibara Headquarters West Japan Marketing Communications Inc. Toyama Terminal Building Company Kyoto Nagoya Kanazawa Terminal Development Co., Ltd. Cleaning and Maintenance Business Okayama KYOTO STATION CENTER Co. Ltd. JR West MAINTEC Co., LTD. Shin-Kobe Kameyama West Japan Railway Hiroshima MAINTEC Co., LTD. Shinkansen Operations Division Kyoto Eki-Kanko Department Store Company Hiroshima Okayama Branch Shin- Shin-Osaka Station Store Company JR West KANAZAWA MAINTEC Co., LTD. Osaka Kansai Urban Area Regional Head Office Kojima West Japan Railway Fukuchiyama MAINTEC Co., LTD. Shimonoseki JR West Osaka Development Co., Ltd. Hiroshima Branch JR West Japan Shopping Center Development Company JR West OKAYAMA MAINTEC Co., LTD. Fukuoka Branch Tokaido Shinkansen Wakayama Station Building Co., Ltd. JR West YONAGO MAINTEC Co., LTD. Hakata Kokura (Central Japan Railway Company) Sanyo Shinkansen KOBE SC DEVELOPMENT COMPANY JR West FUKUOKA MAINTEC Co., LTD. Wakayama Branch Sanyo SC Development Co., Ltd. Other Shingu Chugoku SC Development Company JR West Japan Transportation Service Co., Ltd. JR West Japan LINEN Co., ltd. JR West Japan MARUNIX Co., Ltd. Sanyo Shinkansen JR West Japan General Building Service Co., Ltd. Kyushu Shinkansen 100km Hokuriku Shinkansen Osaka Energy Service Co., Ltd.* Kumamoto 100mile (Kyushu Railway Company) POSSIBLE MEDICAL SCIENCE, LTD.* Other conventional lines JR West INNOVATIONS Co., LTD. Kansai Urban Area West Japan Railway WelNet Company Limited JR West Iwill Co., Ltd.* Other Western Japan areas JR West Financial Management Co., Ltd. Kagoshima-Chuo Boundary Stations between JR-West and JR West Customer Relations Co., Ltd. Other JR Companies 13 West Japan Railway Group Integrated Report 2019 West Japan Railway Group Integrated Report 2019 14.